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<br />9/30/2004
<br />
<br />Metro Plains - JACKSON BLOCK
<br />CITY OF ELK RIVER - RIVERFRONT REDEVELOPMENT AREA
<br />32 Units of Rental Multi-Family and 13,500 Sq/Ft Retail
<br />ORAFT FOR OISCUSSON ONLY
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<br />New Redevelopment Oistrict
<br />
<br />Psgl40f5
<br />
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<br />Olstrlct
<br />CountyDlstriet.
<br />Inflation Rale-Evlry_ Years
<br />Inlernal Loan Rate
<br />Pay-As-You-Go Inllrest Rate:
<br />Note Issued Date (Present Value Date)
<br />LocalTaxRate-Frozen
<br />Fiscal Disparities Elecl;en (A-inside er6 eulside)
<br />Year District was certified
<br />Asaumes First Taxlncremant
<br />Assumes First Tax Increment FerDev
<br />Ylars of Tax Incremenl
<br />Assumes LaslYaarefTaxlncrement
<br />
<br />3.00%
<br />4.00%
<br />6.75%
<br />01-Flb-05
<br />122.1140%
<br />WA
<br />pay 2004
<br />2006
<br />2001
<br />"
<br />2031
<br />
<br />Pay 2004
<br />
<br />Fiscal Disparities Ralie
<br />Fiscal Disparities Metro Wide Tax Rate
<br />locaITaxRat,,-Current
<br />Slel" Wide Property Tax Rate (UHd fer total taxes)
<br />MarKetValul Tax Rate (used for total taxes)
<br />
<br />NfA
<br />NfA
<br />122.7140% Pay2004
<br />54,4470% Pay 2004
<br />0,07591% Pay2004
<br />
<br />Cemm"rciallndustrial Class Rate
<br />First 150,000
<br />Over 150,000
<br />
<br />1,5%-2.0% Pay2004
<br />1.50%
<br />2.00%
<br />
<br />
<br />
<br /> AI! TtON'iiiiiii'
<br /> Preperty land Building Totll Clus B... Dati
<br />MaplD PIC Ownar MarketValu, MarkatValu, MarketValu. Rate TaxCapacily pavable
<br />L" 754050310 141,600 23,500 171.100 1.5%-2.0% 2.672 2004
<br />
<br />Totals Current UN
<br />Totais Rental Use 1,920,000 n.95%
<br />Tetals Retail Usa 1,282,500 40.05%
<br />Totals NEW UN
<br />Nete:
<br />1. Market values are psy 2004 per review of County recerds en 2_23_04
<br />
<br />111,100
<br />102,580 1.25%
<br />68,520 1.5%-2.0%
<br />171,100
<br />
<br />2,672
<br />1,282
<br />1,028
<br />2,310
<br />
<br />E' !nO
<br />Use Total Market ValUII TaxIS Per Total Market
<br />Phlse Sa. Ft./IJnits Sa. Ft./IJnlts Sa. Ft./Unltl TaxIS VIIUII
<br />Rental 32 60,000.00 $965,94 30.910 1.920.000
<br />Retail 13,500 95.00 3.34 45,087 1.282,500
<br />Total 76,997 3,202,500
<br />. Tax estlmltu are b..,d upon developers IItlm.tll efmlmt v.lue,con.truet Ion costs Ind taJl.e. persqlft.
<br />
<br />CI...
<br />R.~
<br />1.25%
<br />1.5%-2.0%
<br />
<br />TaxCaoleltv
<br />24.000
<br />24.900
<br />48,900
<br />
<br />C4~
<br />Paabl.
<br />2006
<br />2006
<br />
<br /> Total Loc.1 Fiscal local Flse.1 Stale_wide Fiscal Stata-wlde Market Total
<br />U.. Tax Tax Dlsp.ritles Tn Dlsplrltle. Propariy Tues Disparities Properiy Vllue Taxu
<br /> Caplelt" Capacity TuCaosclt ..~ TURate TlxRate Tsx,s T.xes Taxes
<br />Rental 24,000 24,000 0 1.22114 0,00000 0.54441 29.451 0 0 1.459 30.910
<br />Retaii 24,900 24,900 0 1.22714 0.00000 0.54447 30.556 0 13,557 974 45,087
<br />TOTAL 48,900 48,900 0 1.22714 0.00000 0.5<<47 60,007 0 13,557 2,433 75,997
<br />
<br />Note; Elk River den not pay Fiscal Disparities snd Apartments do not pay State-wide properiy tax
<br />
<br />P,epo.-.dbyElIls..
<br />
<br />NewCullllow9-214( we admln
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